All Forum Posts by: Anita Z.

Thank you so much @Dan H. @Dave Foster @Melanie P.  These are all things I hadn't considered. I appreciate all the input! Hadn't thought of Prop 13 and pulling equity from my primary, or the idea of adding up the costs from cash flow and negative cash flow to compare if this is a good move.  Love all the different perspectives on this forum!

@Abel Curiel

Would love to know more details about why you recommend those areas for STR's in Tannersville, Warwick, Greenwood Lake.

Thanks

Hi, would love some input/advice on buying a small cottage in Saugerties, upstate New York(mid Hudson Valley).

Looking at buying as a STR/vacation home for myself. Its priced well, needs work(which is fine) but wondering if anyone has had any experience buying, living, or managing any rentals in this area or near it?

Are the STR's there a good investment?

Would love any input here.

Thank you.

Hi, would love some input/advice on buying a small cottage in Saugerties, upstate New York(mid Hudson Valley).

Looking at buying as a STR/vacation home for myself. Its priced well, needs work(which is fine) but wondering if anyone has had any experience buying, living, or managing any rentals in this area or near it?

Are the STR's there a good investment?

Would love any input here.

Thank you.

Thanks  @Steve meyers!

@Twana Rasoul can you clarify what you mean by the limits on the 1031 exchange?

Hi, would love some input/advice on this scenario:  I currently live in the Bay Area, and have a single family rental in Merced, CA that I believe has a slow appreciation: bought for $170k in 2005 & its now worth about $400k. Rents have increased slowly (not a ton of growth there), but we do have cash flow of about $1000/month & its locked into a 3% fixed rate. I've depreciated it over the years so it's been a good investment for tax purposes and we've also leveraged it previously to purchase another rental before we refinanced it in 2021 at 3%.  

But I'm now considering selling that Merced rental and using the equity to buy a San Diego house that I would use as a 2nd home/vacation home & rental.
I would rent out a portion of the house & save a space for myself when I visit.  I love it in San Diego, have family there and plan to move there at some point in next 10 years or so either way.  I currently visit SD about 4-5 times a year.

 Due to high costs in San Diego, I would likely have about $2500-$3k month negative cash flow even with renting out the rooms/house. But we can afford that (our current bay area home is paid off) and we have a regular income & no other debts.  When we finally move to SD permanently  I plan to refinance, pay it down and reduce the loan.

Does this seem like a reasonable plan or should I allow the 3% rate to lock me into that rental even though I want to use that equity to buy in SD rather than wait several more years, till I save up more for a down payment to buy in SD?

I would love to hear some input about this.

Thank you.
 

@alecialoveless    @jdMartin,  What do you use for the initial application? Is it sent via text/email or in person?  For pre screening are you simply looking at income, debts, employment etc? 

Hi, does anyone have any MTR in the bay area or specifically San Jose, and can you share the vacancy rates?

Rents are pretty good over here, so trying to determine, if I should invest in my 1 br 1 ba unit and turn it into a medium term rental.

Any info appreciated!